, August 24, 2010

Ordina sells Integer

Ordina announced today that Integer, one of its fully owned subsidiaries, has been sold to become an independent entity. The Integer Group, comprising of Integer Noord Nederland B.V., Integer Zuid Nederland B.V. and Integer TWO B.V., will be acquired by Integer’s current management and a number of investors. Ordina sold all shares in the Integer Group at their price as per 31 May 2010. The sale has a limited positive effect on the net debt of Ordina N.V. and is expected to be finalised within a few weeks.

The Integer Group has a headcount of about 185. In 2009, the Integer Group generated a revenue of approximately EUR 28.5 million. Despite the difficult market developments, this resulted in a nearly break-even result from operating activities. Revenue stood at EUR 11.5 million while recurring EBITA was negative.

The decision to sell the Integer Group is a natural progression of Ordina’s fine-tuning of its strategic course.

All involved are convinced that the separation of the Integer Group offers a solid foundation for growth and continuity that is entirely in keeping with the wishes of Integer’s staff and clients.